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CNN
Jul 20, 2011 6:00pm PDT
business with the united states that is making a very big profit. china is going to make $300 billion on us at least this year. and they just revised that recently, i don't know if you saw. they said those numbers are going to be low. so we have to take our country back. >> what do you think of this gang of six plan? do you think it's workable from what you've seen? >> from what i've seen, nobody really knows exactly what it represents and what it is yet. but at least they're in there pitches and trying to make the big deal. the big deal is really the deal they should make. i don't like the punt. i don't like the deal where we kick it down the road for six months. this is the time to make the deal. and i have to tell you, the republicans have the cards. people might not think that, but the republicans have all of the cards. and this is the time to get rid of obama care. this is the time to make the great deal. >> i've been following you on twitter and you've been aggressive about obama on the economy. you believe he can't stop spending and that america has to stop spending. one of his belie
CNN
Jul 27, 2011 4:00pm PDT
no choice but to default on some big bills, the ceo of walmart told congress today the squabbling here in washington could have a huge negative impact nationwide on an all fragile recovery. >> a default and the ripple effect i think would be impactful and representing our consumers, we think that that would be very, very difficult for the american economy to withstand at this point in time in our history. >> that's here at home. >>> then there are global worries. concerns that a default or even a close call here could rattle international markets and international economies like that domino effect back after the big wall street meltdown a few years ago. >> the united states is the largest economy in the world, one that matters, one that has spillover effects, not just around the borders, but on a complete basis, globally. >> so, the stakes, they're obvious. the path to the solution, however, not nearly as clear. >> is it today, is it tomorrow, is it friday? magic things can happen here in congress in a very short period of time under the right circumstances. >> now, by "right circumsta
CNN
Jul 19, 2011 1:00am PDT
place over here in the uk. this is one division that has the big question mark over it, the publishing division, $997 million in 2010, 22% of operating income for the company. we have "the wall street journal" front cover, they purchased that for $5 billion. you have $200 million coming from the uk. not a game changer but whether this spills over into the other businesses that rupert murdoch owns. the next division, u.s. broadcast networks, they have about 37% penetration into u.s. house holds, this represents 9% of the bottom line, $409 million they have, tv stations scattered throughout the united states, again, does it spill over because of reputation? right now analysts we spoke to on wall street say not just yet, last division here, sky italia here, scott mockridge, it represents 4% of the operation, not a game changer but feeds in. bskyb would have brought in 15% of earnings per share in 2012 if the deal would have gone through, been held off for 12 to 18 months and it may not happen at all. you take a step back from all the numbers i hoad you, $636 million loss, about 14% of the
CNN
Jul 23, 2011 5:00am PDT
feeling. >> i can't wait to see you in new york. start that race together and give you a big hug at the finish line. >> sounds good. can't wait to see you. >> if you want to follow along with me or any members of the six-pack, logon to cnn.com/sanjay. thanks for being with us this morning. time now to get you back into the cnn newsroom for a check of our big stories. >>> this from the cnn center in atlanta, georgia, this is your saturday morning, k a.m. eastern time and i'm t.j. holmes. two developing stories. first the president summoning congressional leaders back to the white house for a saturday morning conference. this comes the day after the house speaker, john boehner walked out on debt talks. the president calling them right back. >>> also the developing story out of norway where at least 91 people have been killed in two separate attacks in norway. police there say these two attacks are, in fact, linked. still a developing story. we'll have the very latest for you live in just a moment. we need to begin in washington, d.c. with that looming deadline on the nation's debt.
CNN
Jul 27, 2011 6:00pm PDT
cloud over this economy at this vital time. >> how big a problem is the split in the republican party? and the reason i ask you that is that senator mccain has come out very strongly and angrily today lambasting those on the tea party side of the gop saying that their demands of balancing the budget and so on are completely fanciful. he calls them hobbits. clearly there's a split there amongst some republicans, but is that helpful or a hindrance to trying to get a deal here? >> look, i think the leaders have set terms that i think allow for a type of compromise. the thing the president's been talking most about, which is the importance of making sure that we do not keep the specter of default hanging over our economy narks tha we have a debt limit that's extended into 2013 so we provide some stoernt investors and job creators in our economy, that's something that virtually all of the democratic and republican leadership has called for during most of these negotiations. almost everybody wants some form of a down payment on deficit reduction. almost everybody believes we need to come ba
CNN
Jul 27, 2011 9:00pm PDT
find out about them. if you want to nominate someone you know who's making a big difference in your community or another community >>> tonight, washington in turmoil. >> we cannot borrow more money. we have to balance our budget. >> we're running out of time. it's time we get serious about finding a compromise. >> americans outraged. >> they can't seem to get it together and compromise. >> we have adults who have been elected to office, and yet they play worse than 3-year-olds. >> i'd fire them all. >> what would it take to get a deal done? i'll ask the white house and the republicans. plus, what this crisis is already costing you. and adam levine, rock star, maroon 5 front man. he's sold more than 15 million albums. he's conquered tv on his first season of "the voice." >> christina takes things to a whole new level, right? you can level with me. >> i can't on national television. >> but tonight his biggest challenge yet. i'm getting him to do something you've never, i mean never seen him do before. >> this is so dumb. i don't know why i can do it. >> that is incredible. >> the amaz
CNN
Jul 28, 2011 2:00am PDT
higher. the ftse and the dax are both down. sony is reporting big losses. let's go to kyung lah, live in tokyo. good morning, kyung. >> reporter: good morning, ali. it's not just sony but it is a bad day in a lot of boardrooms and many of the electronics companies here in japan. we saw a lot of reporting of the quarter from april to june. sony posted a loss of 191 million u.s. dollars. panasonic, down 390 million. sharp down 630 million and nintendo says they lost in that quarter 327 million u.s. dollars. why? well, partially because of the march 11th earthquake. they are still trying to recover from the poor sales and the supply problems. the other theme we keep seeing over and over again from these electronics companies is the currency problem. the u.s. dollar is sinking. sinking very rapidly in these last six weeks. u.s. manufacturers, just like japanese manufacturers all operate on the u.s. dollar. and so when japanese manufacturers then have to repatriate these funds here, they lose if the dollar is sinking and the yen is rising. what is pushing the dollar down is all of that u.s
CNN
Jul 29, 2011 3:00am PDT
of some instruments that could -- showing, you know, trouble in the lending market. >> the big question is, will washington let that happen, and right now that answer is not any clearer than it was yesterday morning. we begin with breaking news, though. this titanic struggle that's continued to go on right now to end the debt crisis before next tuesday's deadline. here's a live look at the capitol where overnight, infighting among republicans forced house speaker john boehner to yank his debt bill. they thought there was going to be a vote last night. there is hope he will try to pass it again today. in four hours the speaker will again sit down with fellow republicans and again try to entice just a handful of hardline conservatives to fall in line. >> the bill's not perfect. i never said it was perfect. nobody in my caucus believes it's perfect. but what this bill reflects is a sincere, honest effort to end this crisis in a bipartisan way to send it to the senate where it can receive action. >> now the speaker's bill would cut $900 billion from the budget over ten years in exchange for a
CNN
Jul 30, 2011 5:00am PDT
to the european style of big government, that his policies have set in motion. to democrats in washington, the answer isn't to cut spending, but to raise taxes and keep on spending. republicans believe we must solve our debt crisis. and we believe we can solve it if democrats will work with us. >> all right. we do have our correspondents up early this morning. athena jones at the white house for us this morning, also our joe johns, keeping an eye on capitol hill. joe, let me start with you, forget all the symbolic votes, the one we saw yesterday could see another one today this early afternoon. forget that stuff. what is a real possibility of happening right now? how are they going to get this done? >> okay. first, you got to say, this is a poisonous environment on capitol hill and in washington in general, but the way the democrats have been able to do this before is they've reached out to a group of potentially persuadable senators in the middle. these would be people who can sort of move in, take a look at this thing, try to fashion some kind of language that you might call a compromis
CNN
Jul 20, 2011 2:00pm PDT
have budget sate h savings of $500 million. -- $500 billion. also it calls for big changes to medicare and social security. >> i think at the end of the day, what the overwhelming majority of americans are saying, fix this. and if it takes a little compromise from both. >> but the is plan faces a harsh reality. tough procedural obstacles means the proposal won't be ready ahead of the august 2 debt ceiling deadline. and a key block of conservatives is already saying no way. >> we know it's going to hurt job creation. we know it's bad for small businesses. we're not going to go for this type of plan. >> with time running out, harry reid, who is still work on a fall back plan with mitch mcconnell says he's now waiting for a signal from house gop leaders. >> we have a plan to go forward over here, but until we hear from the house of representatives, we really are -- all of our work here would be for not. >> now there is also talk of folding elements of the gang of six plan into this so-called fallback plan being worked out between senators reid and senator mitch mcconnell. but it's not eve
CNN
Jul 31, 2011 6:00am PDT
an agreement here that i hope they will consider supporting. >> and the next big area is the debt committee, as you call it, and the question is how do they guarantee absolutely that you get the kind of deficit reduction you are looking for, because we have had, with all due respect, committees in the past and they have not done so well, one very recently, and how do you hold fair feet to the fire? there is talk of triggers to make sure if they do not do their work congress will be forced to cut. >> first of all, we have not had anything like this. this is a joint committee of congress. it's not a commission that consists of outsiders. it's a joint committee of congress with an equal number of republicans and democrats, under enormous pressure from the american people, from the markets, foreign countries looking at us to see if we're going to get our house in order, to come up with significant additional savings over and above the initial ones that we will approve before the end of this year, and entitlement reform is absolutely critical. for example, the -- the trustees of the medicare and
CNN
Jul 20, 2011 12:00pm PDT
to put things in perspective, the federal government's twice as big as it was ten years ago. right now. twice as big. so everybody out there that's having to live within a budget, making the hard choices in our economy today, know that if you've grown something twice in ten years, you obviously can make some significant cuts in it without having any negative effect. >> senator coburn, let's talk about your role in the gang of six. is it correct, i mean, you bolted from the group. it was widely reported a couple of months ago. returned recently when the gang agreed to cut an additional 100-plus billion dollars from entitlement health care programs. and are you rock solid behind this new plan? >> you know, i'm rock solid behind my plan. my plan isn't going to happen. so i'm rock solid behind the plan that gets us on the way and this one does. >> your plan being the $9 trillion? >> yeah. >> the whole thing, it appears to be dependent upon rewriting the tax code. so how do we do that? how do we make all these other changes? how do we avert this, you no kn potential default in 13 days and h
CNN
Jul 22, 2011 10:00pm PDT
, indeed. they raised the stakes earlier on, making a big deal saying he no longer wanted to work with the white house, and yet we're hearing he's going to be at the white house tomorrow morning for more meatings. how is the white house iraqing to this? >> there's a lot of talk about the fact the president has put in repeated calls to speak eer boehner as the president tells it, in order to get a response. the white house made an outreach, an overture of the outline, and the president called speaker boehner's office first, and was told that speaker boehner wasn't available to talk to the president. this is not your stand protocol in president. you make yourself available to talk to the president or shortly thereafter. there is frustration about that expressed here, but there is still an openness and a willi willingness on both sides to negotiate because everybody wants to get the debt ceiling raised, and here, also, they say maybe this obama/boehner framework could be the deal in the end, so it's still not off the table from this perspective. >> you say there's a willingness on bo
CNN
Jul 24, 2011 6:00am PDT
's a reason to switch. big savings -- it's a good look for you. [ blower whirring ] [blower stops] the safety was off. out there with a better way. now, that's progressive. but for some of us with overactive bladder, our pipes just don't work as well as they should. sometimes, i worry my pipes might leak. but i learned there's something more i can do. now, i take care with vesicare. once-daily vesicare can help control your bladder muscle and is proven to treat overactive bladder with symptoms of frequent urges and leaks day and night. if you have certain stomach or glaucoma problems, or trouble emptying your bladder, do not take vesicare. vesicare may cause allergic reactions that may be serious. if you experience swelling of the face, lips, throat or tongue, stop taking vesicare and get emergency help. tell your doctor right away if you have severe abdominal pain, or become constipated for three or more days. vesicare may cause blurred vision, so use caution while driving or doing unsafe tasks. common side effects are dry mouth, constipation, and indigestion. so why wait ? ask your doctor t
CNN
Jul 27, 2011 6:00am PDT
questions. on the one hand, he loses a day and there are only six days to go. so that is a big deal. the other thing is that what is more important is the loss perhaps in credibility. the speaker said his plan was going to, you know, save something like over a trillion dollars. but it only saves about $850 billion. so that's a bill difference, too. a question of credibility. on the other hand, he buys some time, because there are a number of people in the house of representatives, some of whom who actually spoke out last night and said this thing is not going to pass. i'm not going to vote for it. he gets a little bit more time to try to drum up the support he needs, because once he puts something on the floor, he has got to get a yea vote. >> all right. dan, you know, there is some talk of a band-aid slash patch approach. what would that do? >> reporter: well, look. a message you've heard from the white house last week or so, that the president does not embrace a short-term deal, but if, in fact, it does appear that there is some compromise happening, that both sides have agreed to
CNN
Jul 30, 2011 3:00am PDT
of times on the saturday and sunday morning sessions when there is something big going on. you want the principals to get in the room and figure out how they will work this out. you want reid or his representative or mcconnell or his representatives. somebody from the white house to get into a room and talk this thing over and figure out what they will do in the next 48 hours going forward. that is the most important thing. our people will comb the capitol to figure out what the meetings are going on. >> good luck with that. we know about the two proposals by reid and boehner. folks on capitol hill said they are not too far apart. >> no. they are not too far apart. there is tricky stuff in there. one of the things that makes reid different from boehner is reid's plan considers cost savings as the winding down of the iraq and afghanistan wars. that is $1 trillion of difference. the boehner plan doesn't consider the winding down of the afghanistan and iraq wars. another thing that is in there that is very different from the democrat and republican ideas is boehner has this balanced bu
CNN
Jul 31, 2011 12:00pm PDT
a big influencer here, so has -- so have the pledges to not increase taxes by americans for tax reform. what's your sense of what this does for any future discussions about spending, budget cuts, tax increases or stimulus? >> well, here's what i think the administration would say right now, ali. we don't know all of the details right now. if the deal includes a promise that we're going to get expedited action on a tax reform package, which would have to include something like an 800 billion to a trillion dollar revenue increase as part of it, doing lower rates or broadening the base but with revenues, the sort of thing the speaker, john boehner and president were talking about. it may not be quite as bad a deal for the president. what the white house is saying, we have a stop gap here. if they don't want to increase revenues by the end of 2012, barack obama is still the president and he vetoes the repeal of the bush tax cuts so they end up with a worse situation. now, that's -- the best case that you can make perhaps with this kind of deal but not over with yet. at the same time, whate
CNN
Jul 23, 2011 10:00am PDT
. this is a big band-aid on a much more serious problem. >> this isn't about jobs today. this is about where we're going to be in 10 or 15 years, are we going to run off a cliff? are we going to sort of have a gradual adjustment or wait till the last second and have markets force us? they're not forcing us to do this. our interest rates are low. that's not the problem. but we see it coming eventually. so this is not going to help, although it will encourage wall street. it will encourage credit a bit because it will provide a bit of calm finally in the markets over this. >> do you think that any of that -- any of the plans you see right now, when you look at them, do you say any of this will create jobs? the warning i'm hearing about so many of them is in the short-term, this is possibly going to slow things down even more? >> yeah, i'd say they're not creating jobs now. but they're taking some very hard problems and, by gosh f they actually do some of the tax reform, it's going to make a big difference over the longer term. it really is going to be a help for the economy. >> jeanne, if they re
CNN
Jul 26, 2011 8:00am PDT
is your chance to talk back on one of the big stories of the day. today's question is what would you tell congress to do about the debt limit? carol costello is joining us from washington. carol, i bet you're going to get a lot of folks weighing in on this one. >> i urge all of our facebook friends to keep it clean. that's my only request today. what is happening in washington is political gamesmanship at its worse. it's ugly and more than a little scary. the united states has never gone into default because past administrations and lawmakers have compromised. cnn contributor john avalon says lawmakers have raised the debt ceiling 77 times including 8 tooils times under ronald reagan and back in the day politicians weren't quite so macho. many insist on standing on principal even though most americans stand on the side of good old fashioned compromise. two-thirds of americans want the president and republicans to compromise, rather than stand up for their beliefs to get things done. wow. a break from part is anship. perhaps the happiest outcome of the president's speech last night was whe
CNN
Jul 25, 2011 3:00am PDT
mean they've got to pass something big and get it implemented quickly if we're not going to blow past that anyway. >> they really do. you heard secretary geithner yesterday saying that essentially we're running out of runway now and this is something that everyone has been dealing with for many, many months. what speaker boehner, according to one republican source, told gop lawmakers yesterday, is that they have to vote on some kind of a plan by wednesday and they have to post it on-line by today. so, you know, these are pretty tight deadlines that they're up against right now and last check, you know, they're still not close on a deal yet. nonetheless they have to get something done as he pointed out by wednesday to meet that august 2nd deadline. >> they don't have to be tight deadlines. >> never has to be tight deadlines. >> this is a crisis made in washington. >> as mark preston told me about half an hour ago, on the phone, he said guys, it's washington. that's -- >> this is how it always works. >> we'll be with you, talking many times. i have to tell you, grover norquist, the pres
CNN
Jul 26, 2011 9:00pm PDT
of the house. obviously, they don't agree on a number of issue. their big differences and principle differences. each gentleman was convinced there was a way to reach compromise. we came very close. that involved tough political decisions. it included a willingness to cut deeply in our discretionary spending. a willingness to reinform our entitlement programs and a willingness by republicans to find savings in our pentagon budget and saving tlus tax code to raise revv neufville that is what was on the table. we came very close. and we never walk away from those negotiations. we never issued any ultimatums and we believe that that grand compromise is still available if there is political will to do it. the reason why it ended, we brief, it is politically painful for everybody. the president realized he would take a lot of political heat if we got this grand bargain from his own party. certainly the speaker of the house might have. the president was willing to do that because he thought it was the right thing to do. we implore the speaker and other republicans to be willing to do that as well. lo
CNN
Jul 27, 2011 2:00am PDT
us the big picture. >> reporter: what's happening now is democrats are waiting. they're just waiting to see what happens with the republican's bill before making their own move in the senate. the big picture here is neither the republican's bill in the house nor the democrats' bill in the senate seems to have the votes to get through both houses of congress. so we're back at stalemate. >> and so it's wednesday and there's no deal. the ted line is tuesday of next week. if congress can't get it done by then, you could start to see higher interest rates, a declining dollar and other problems. the white house website has put up a chart that breaks down the u.s. debt by administration over the last ten years. i was just looking at it. more than $3.5 trillion because of changes to the economy, not policy changes, but less tax income and things like that. the two wars, tax cuts, t.a.r.p., the so-called bank bailout, the stimulus is all listed there. worth checking out if you have some time. don't worry, it's safe for work. we do love our charts. >>> a federal granld jury in alabama indicted
CNN
Jul 30, 2011 8:00am PDT
some that said that the republicans had a big win, they should have taken advantage of it this time last week and got us past this crisis. >> well, maria, that some he may speak of, some could be one, two, three, four, or five, but those some seem pretty powerful right now. >> well, that's exactly the point, t.j. and i wrote a piece on cnn.com about this, it's called the tyranny of 87. which is, when you put that much power in the hands of a very small group of people, especially people who have never governed before, have no interest in compromising, and are so inflexible and it's either their way or the highway, the american people at the end of the day are the ones who are going to get hurt. because a couple things may happen. if we go into default or if our credit rating is lowered to aa, which the tea partyers don't think is a big deal, there will be a huge tax increase on every single american in this country in the way of increased interest rates. so for a group of people who are just adamantly against tax increases, this is not something that they understand. and that is som
CNN
Jul 28, 2011 6:00am PDT
. if they manage to defeat this vote today, this is going to be a big, big problem for markets. if they don't, you may see markets continue to tread water until there is a solution to this. now, remember, speaker boehner's plan is not likely one that is going to pass the senate. not likely one that is going to get past the president. the bottom line if there is some sense boehner has better control of h over hi members you may see markets allowing a little bit more time. right now markets are largely relaxing but ready to move if this doesn't go the right way. >> thanks, guys. >>> at the bottom of the hour, we will go to wall street for the opening bell and answer a question many of us have right now -- should we take our money out of the stock exchange and where do we put it if so. we will talk to a financial analyst about that. >>> cnn obtained dramatic new video taken minutes after the bombing of the government buildings in norway. it was shot by a hamburg who works in oslo and driving through a tunnel beneath the city's government plaza when the bomb went off. eight people killed. he recorded
CNN
Jul 24, 2011 6:00pm PDT
an audience and walk off an hour and a half later with a big check in your pockets. movies, it's three months filming, six months editing, promotion, the whole rest of it. it might just bomb overnight. a torturous process. >> and it is monotonous. some directors have you do things 20 or 30 times in a row. if you started in comedy, that's rough because you wear out. but in the end, if you're working with great people, i just did a movie with dax shepherd and barry cooper and kristin bell, every day it was something different for those guys and fun. i see the joy of somebody like bradl bradly cooper has to be there. just so happy to be in the moment and i want to get some of that. i've done about 100 movies and i want it still to be fun for me. >> you've done 100 movies. >> yeah. >> which is your favorite? >> i love "true lies" because what have it did personally. >> the biggest turkey? the one you don't like to talk about in civilized company? >> the financier's girlfriend played the lead. i took it, it was a job. i don't turn down much, obviously. but it was a job and it was rough to put her
CNN
Jul 26, 2011 4:00pm PDT
said it was going to -- said it was going to. here's why it's such a big problem. because of speaker boehner, he said there's one major principle, you'll remember, jessica, as they moved forward to raise the debt ceiling, that the amount of the cuts be greater than the amount they raised the debt ceiling. and in this legislation right now is called for raising the debt ceiling by $900 billion, $850 billion, is less than $900 billion, so know that's a problem. policy aides are scrambling to try to rewrite the legislation to make their way forward. we know they're aiming for a vote tomorrow, but we don't know if they can promise it quite yet. we got a speaker from speaker boehner's spokesman, this coming from michael steele, in response, in reaction to the cbo, michael steele said we're here to change washington, no more spoke and mirrors or phantom cuts. we promised we'd cut more than the debt ceiling. as we speak, congressional, are looking at options to rewrite the legislation to meet our pledge. this is what can happen when you have an actual plan and submit all it really seemed to
CNN
Jul 19, 2011 12:00pm PDT
into a full-time job and eventually led to her relationship with murdoch. >>> now to potentially big, big news in washington. debt talks, big news and a very significant step forward today, says president obama, just a short time ago. the president announced the so-called senate gang of six made of members from both parties has floated this new proposal that he, the president, can work with. the bipartisan group had thrown in the towel, ditched an earlier effort to find a debt reduction package okay to both parties and now at this late date 14 days until a potential government default. they're back with a plan that the president says includes deep spending cuts and, yes, also includes tax increases. here's the president. >> here's where we stand. we have a democratic president, an administration that is prepared to sign a tough package that includes both spending cuts, modifications to social security, medicaid, and medicare that would strengthen those systems and allow them to move forward and would include a revenue component. we now have a bipartisan group of senators who agree with that ba
CNN
Jul 29, 2011 6:00am PDT
and he has made you laugh and being a big part of making the mornings special for you. we want to leave on an updetroit note. good luck to you, kiran. it's 9:00 a.m. on the east coast and 6:00 a.m. on the west coast. i'm kyra phillips. >>> a race against the debt deadline. a revolt among house republicans forces a critical vote to be delayed. police in texas say a muslim american soldier confessed to plotting an attack on ft. hood just two years after a muslim officer shot to death 13 people on that same base. >>> tropical storm don could hit the south texas coast tonight and drought-stricken farmers are welcoming the prospect of up to 7 inches of rain. >>> we begin with that sobering reality check on the debt crisis and just how daunting the challenge has become. in less than four days, the federal government could run out of money and default on its bills. but on capitol hill, the process has taken a huge step back. house speaker john boehner abruptly delayed a vote on his debt plan because of a revolt within his own party. joe johns is in washington with more on the political battle
CNN
Jul 26, 2011 3:00am PDT
no way, that they're not happy with what speaker boehner put forward for them? >> look, that is a big part of whatever takes place here, because they'rele really digging in. there's some house members who say no new taxes whatsoever, even on the wealthy americans, and the president saying that you need to get some kind of revenue here in order to make the system work for the long term health of the economy. that's very important. what can they come up with that can woo over those republicans who are being very clear about not wanting those taxes to go up. >> dan lothian, thank you. >>> all right. so the two plans on the table right, the democratic backed senator reid plan and the republican led plan from senator -- speaker boehner. let's begin with senator reid's blueprint, cuts $2.7 trillion over the next decade. a big piece is what senator reid calls the winding down of the wars in iraq and afghanistan. that will save $1 trillion. republicans have called that a gimmick, savings from wars that are winding down, even though by the way, the same savings were counted in some republican
CNN
Jul 29, 2011 5:00pm PDT
, a big thumbs down over there, and then -- then -- we will move on. but the number of votes on either side really doesn't matter so much as this number. the number of days and hours now left until the money runs out. this is what we've been warning about for weeks and weeks. still, the vote today was enough to al lookout low the republica spike the ball into boehner's court. and he did so with a vengeance. >> i struck my neck out a mile to try and get in agreement with the president of the united states. i stuck my neck out a mile. and i put revenues on the table. in order to try to come to an agreement to avert us being where we are. but a lot of people in this town can never say yes. a lot of people can never say yes. this house has acted. and it is time for the administration and time for our colleagues across the aisle, put something on the table. tell us where you are! >> well, over in the senate, what they are putting on the table is mr. boehner's bill. they'll kill it over there. that's under way right now. we'll let you wln voting is done on that. this makes the vote tonight i
CNN
Jul 29, 2011 10:00pm PDT
rates go up. credit cards, mortgage rates, auto loan rates. you mentioned august 3rd, that big social security payment? according to many republicans, unless we default on an actual debt we don't have to get our debt downgraded. according to s & p and ben bernanke, if you default on any payment you're supposed to make, even if it's not to a bond holder you could face that. >> republicans who say, look, i don't buy it's this big catastrophe waiting to hit after august 2nd. >> reporter: they absolutely could be right. but anderson, you and i were together on september 15, 2008 after they decided a lot of smart people decided to let lehman brothers fail thinking it's not that big of a deal. i don't know which way it's going to go. i don't know if we should be playing with fire like this. >> john, what do you make of jessica's reporting that she's hearing mitch mcconnell is wanting president obama to be at the table in any negotiations? >> as a couple of political reasons for that in the sense that then you can't cut a deal then the white house will say we're going to try this. to move th
CNN
Jul 21, 2011 9:00pm PDT
have a big stake in is apple, of course. steve jobs has done an extraordinary job there. their recent profits were just astronomical again. obviously, they're a big global company, and they've aggressively marketed in countries all over the world. do you think america's doing enough of that? do you think it's time they went back to designing, creating, and building things they can sell to the world exactly as apple is doing so successfully? >> well, clearly, apple is a role model of the american innovation whereby it produced all these products -- ipod, iphone, ipad -- that is really now dominating all the technology arena in the world. clearly, apple is a role model, and i believe the united states, with all its problems, is down but for sure is not out. i hope that an awakening happens in the united states whereby to go back to the roots of the main success of america, which is innovation and encouraging more ideas and more thoughts to be integrated in the u.s. system. >> are you concerned at all about the succession plans at apple given the ongoing situation involving steve jobs' h
CNN
Jul 23, 2011 3:00am PDT
. the personalities here. there is a collapse here. i think what is important in the big picture is it was groundhog's day over the collapse although yesterday was a very dramatic day. that is tax increases. when you heard the speaker saying that the president had moved the goal post, he was talking about an insistence on $400 billion in tax increases that he said essentially the white house put there on the table at the last minute. then you heard from president obama yesterday, a very frustrated president obama, that he did not understand why the speaker was walking away from really what the white house sees as a sweet deal considering how much it has wrinkled the rank and file. you heard the president say he felt like he had been left at the altar by speaker boehner. let's listen to both sides. >> i just got a call about a half hour ago from the speaker himself. can they say yes to anything? we have now put forward a package that would significantly cut deficits and debt. it would be the biggest debt reduction package we have seen in a long time. it is hard to understand why speaker boehner would
CNN
Jul 27, 2011 3:00am PDT
against dominique strauss-kahn. cnn has learned there is a big meeting this morning at the manhattan d.a.'s office. are the charges against the former imf chief about to be thrown out? >>> and the media demanding to know the identity of every juror in the casey anthony trial. the judge has to comply. why don't we have the names? >> can we get help here? how the guy got stuck head first in a sewer. 14 minutes past the hour. [ male announcer ] you have dreams for your children. don't let times like these stand in the way of them. protect your family with the gift of financial security. backed by the highest possible ratings for financial strength. new york life. the company you keep. backed by the highest possible ratings for financial strength. ...was it something big? ...or something small? ...something old? ...or something new? ...or maybe, just maybe... it's something you haven't seen yet. the 2nd generation of intel core processors. stunning visuals, intelligent performance. this is visibly smart. like new splenda® essentials™ no calorie sweeteners. this bowl of strawberries is l
CNN
Jul 25, 2011 2:00pm PDT
do if they had a lot of time. they don't have a lot of time right now. >> that's the big question and the big factor at the center of all of this. they don't have a lot of time and they need to move both of these through both chambers of congress and somehow reconcile them, how they're going to do that. >> let me go back to the white house. it looks like these two plans, they're obviously a senate plan by majority leader harry reid and house plan by speaker john boehner. does the white house feel sidelined or left out of thf process? >> i had this question, too, and i talked with one official who said the president can't be sidelined. he is the president. he has the power of the veto pen. he's the one who says ultimately if something moves. although inthe thought is if he was given a plan that could get through congress, i think the thought is how could he do anything but sign it? but certainly the president and the white house have been very much in touch with senate democrats and the roll right now is that senate majority leader harry reid is pretty much the president's lifeline
CNN
Jul 27, 2011 10:00am PDT
economic system in the world and saying what on earth is going on? how has it got so bad? the really big fear ultimately is that there is some sort of accident. basically, a vote doesn't take place. somebody loses, and somebody doesn't turn up, and ultimately a technical default actually happens. now all the rating agencies have pretty much said we accept if there is default, it will be short lived. this is a case of won't pay, not can't pay. randi, these are delicate times and certainly the global economy is in no fit state for these sort of shaw than begans. >> how significant is it if the rating slips? >> it's significant because it's just like our credit rating on our credit cards. if you are lower down the scale, you have to pay a higher interest rate or you may not get as much credit. if the u.s. loses it's aaa rating, and it's only one of a handful of countries, an kcanadd australia, two of the others that never defaulted, if they lose their aaa rating, then the government has to pay more for its money. i suspect the aaa would come back quickly, but the damage would have been done
CNN
Jul 28, 2011 6:00pm PDT
's dysfunctional is we have divided government. that requires compromise. even though we have had big disputes over the years, there's been a situation where parties work together for things that have to happen. i know people around the country are frustrated and angry. the president shares that frustration. it's why the phone lines are jammed on the hill. e-mails and websites are going down because people don't understand why compromise is a dirty word in this town. >> how much responsibility does the white house take for the kurpt economy. there comes a point when blaming george bush no longer holds water. when you look at the credit rating coming down, how much blame are you guys taking in that? >> what the president has said is we didn't get into this mess overnight and we are not going to get out overnight. the president inherited financial challenges. we are working to get out of it. the president said the recovery is happening, but not fast enough. we are not creating enough jobs, the economy is not working. if we are going to have a real solution, it has to be republicans and democrats work
CNN
Jul 21, 2011 2:00pm PDT
tag is big. we've been using cnn's global resources to explore the heartbreaking famine in so somalia. how kenya is suffering as well. stay with us, you're in "the situation room." mine was earned over the south pacific in 1943. vietnam, 1967. i got mine in iraq, 2003. u.s.a.a. auto insurance is often handed down from generation to generation, because it offers a superior level of protection and because u.s.a.a.'s commitment to serve the military, veterans, and their families is without equal. begin your legacy. get an auto insurance quote. u.s.a.a. we know what it means to serve. we inspect your air filter, cabin filter. there's bugs, leaves, lint, crud. you'll be breathing that. i do believe it's part of a locust. make sure your alignments good. your brakes are good. you've got all sorts different things that you check off. your fluid levels. pretty much everything you could need. it gets done. it gets done quickly. and it gets done correctly. the works fuel saver package, just $29.95 or less after rebate. only at your ford dealer. you're a doctor. you're a car doctor. maybe a car d
CNN
Jul 25, 2011 8:00am PDT
can describe it. i lost my breath and a few tears. and it's indescribable. >>> back to the big news in the nfl this morning. the owners and players have now agreed on a deal. it's not just the fans that are cheering but you've got businesses in every city with an nfl team that are sooighing wit relief here. david mattingly joining us. tell us what this means because it goes much more beyond the game. >> you look at the nfl. they have $9 billion in revenue. when you look at each individual city, take atlanta, for example, they had two preseason games last year and eight regular season games. that brought in $56 million into the economy. so you can see that in just about every nfl town everywhere there is a game going on. you were talking about all the people who work at the games and everything like that. >> sure. >> these teams have a lot of people depending on them getting on the field. that is about to happen. we got confirmation today that we will have a vote from the players union today. they're going to be taking it to, first, the players' representatives. >> okay. >> the repre
CNN
Jul 30, 2011 4:30am PDT
of the kids at children's hospitals. congress member michael burgess is a big backer of programs to train pediatric specialists. with medicaid, we are facing tough choices. >> it will require more money. that more money will come from somewhere. does that mean a lessening of benefits for people on the program currently and evening out? when you have a finite number of resources, something has to give. >> that is a reminder that the budget negotiations you hear about involve lots of choices and numbers. there are real people behind the numbers like mimi and max. >>> coming up, a decision affecting workers who say they got sick in cases after they rushed to help after the world trade center collapse on 9/11. t. he's low fat, too, and has 5 grams of sugars. i'll believe it when i--- [ both ] oooooh... what's shakin'? [ female announcer ] as you get older, protein is an important part of staying active and strong. new ensure high protein... fifty percent of your daily value of protein. low fat and five grams of sugars. see? he's a good egg. [ major nutrition ] new ensure high protein. ensure!
CNN
Jul 30, 2011 6:30am PDT
there's a big difference between the two. so the comparison doesn't really ring true with me because we can't do things like raise taxes. only thing we can do is get job number three and four. it's important to, of course, look at your own budget and own debt levels. in terms of the government's situation, it's very, very different. i don't think the comparison really gels for right now. again, we can't raise the money like they can. >> right. >> we have to pay attention to how much debt we're holding on to and how much we're paying for it. if the rating changes of our country and debt. >> your rate may go up. >> our rates are going to change and that's going to cost a lot. >> i agree that it's not the same. i would say the closest annualo for many people is how much money they have invested in their house which may not be worth what it was when they paid for it. >> this is huge. we had a big report from pew research center about the drop in minority wealth. the biggest culprit is the housing market. so much of the net worth put in the housing market. the best thing you can do in times
CNN
Jul 31, 2011 2:00am PDT
disingenuous from somebody else. that's a pretty big chip to pull out. and i disagreed with that. and we -- >> what do you mean by that, do you think? >> i think when you understand the material, you understand it. and when you don't get it, you might think that i'm negative towards my own people. >> also strikes me as strange. i've met jay leno, five or six times on his show. he's always been unbelievable courteous. comes back, chat, cup of coffee, have a laugh and yet he seems to attract, from all of his competitors, extraordinary amount of antipathy. >> there's not a -- there's not a union of super heroes amongst late night talk show hosts. i just met david letterman really for the first time i did his show. i waited 28 years to do it. i've known conan for a while. i know jimmy kimmel, craig ferguson. to a man, i think one thing we agree on is we're all not crazy about jay leno. >> why is that? >> i don't know. i think in our own personal dealings, some people get along and some people don't. >> is he much more competitive than people realized, do you think? >> i don't -- you know, i
CNN
Jul 23, 2011 9:00am PDT
-term extension of the debt ceiling, that this take the debt ceiling to a point -- it's a big enough extension that it wouldn't have to be raised until after the november 2012 election. listen to the president and take a sense of his mood yesterday. actually i guess we do not have sound, fredricka. >> let me ask you, brianna, we know that john boehner was there. who else was at this meeting, so we can get a little color as to who was present and what the dynamics may have been? >> reporter: that's right. we're waiting to see if staff went in in the end as well. we don't have those details. but it was a smaller meeting. it was president obama and speaker john boehner hours after this thing has fallen apart and after weeks of a lot of cordiality between the speaker and the president. that was interesting to know a few hours later -- you had the minority leader in the house, nancy pelosi, was there. harry reid and mitch mcconnell were there. all key players because the understanding is that, of course, in the house, this will require votes from democrats and republicans. and right now, the ball i
CNN
Jul 26, 2011 6:00am PDT
than slaughter dozens of people. >>> bp has a big turnaround. the company raked in more than $22 billion in profits for the quarter! >>> the debt, minute-by-minute, the nation inches closer to the brink of twault. the countdown less than seven full days before the federal government runs out of money and unable to pay its bills. in washington a stark message is delivered between the president and the speaker of the house. their parties are desperately divided and you and i are about to pay the price. we are covering all of the angles from wall street to the white house. ali velshi getting really creative and looking at the cost americans could face even before time officially runs out. of course, dan lothian with the politics and the posturing. ali, let's start with you. the markets open this hour, okay? how is the debt issue going to impact things today and the rest of the week? i know yesterday, you kept saying give me a little more time and i'll let you know when to worry but how many times can we say that? we are not worried yet. we are watching. i'm watching this every minut
CNN
Jul 26, 2011 2:00pm PDT
at the white house that there shouldn't be another vote. that should wait until 2013. is that the big stumbling block right now? >>> senator reid said he clearly does not agree with boehner's approach. >> there are similarities, though.. >> some of the spending cuts, not all. both have this congressional committee that's going to be charge the with trying to identify deficit reduction. you can see how there could be conner tos. eric cantor, speaker boehner, other republican leaders have said frequently through this whole process, they do not think we should extend the debt ceiling. what we need to do is come together, compromise, get us through this period of imminent price sis where we don't want the country to default and then let's move on first of all to focus on the economy and jobs, but finish the job of deficit reduction in months ahead. the speaker of the house john boehner and the president are having very, very, i think, productive discussions about areas of potential common ground and we hope some of that work will provide the foundation for what congress does down the road here. >>
CNN
Jul 26, 2011 10:00am PDT
's also about whether or not the big rating agencies decide to downgrade the stellar aaa credit rating of this country. even if that happens, this is why it matters to you. let's start with your home. most people's biggest investment, what is likely going to happen in the case of default certainly and even in a downgrade is your mortgage rate is going to go up. experts say this isn't just a temporary issue. mortgage rates will go up for a significantly long period of time. that's going to affect you, more houses sit on the market, prices fall further. this hurts the already weak housing market. let's transition to college. your college loan, your savings for college. similar story. the interest rate on private college loans is going to go up, it's going to be harder for folks to necessarily get credit if credit starts to freeze. the only sort of silver lining to this is that a lot of people do have their student loans lined up for at least the next term. it also affects your car. if you have a car payment, and it's very similar to your mortgage payment, when you talk about your car, in
CNN
Jul 20, 2011 7:00pm PDT
, troubling ones that any possible compromise, big or small, long term or short, simply is not going to make it through the house of representatives. now, you may think that this is businesses usual in washington. two sides pushing a crisis to the brink in order to get the best possible deal for their side. but jessica yellin is reporting that some of her sources are telling her that this is anything but a normal crisis. she joins us now. jessica, thanks. your sources are saying this is becoming an abnormal crisis. what happened today? >> reporter: well, there was a lot of process, sanjay. and a lot of discussion and still no break through is the bottom line. we are less than two days away from the president's self-imposed july 22nd deadline for a deal. and still there is no deal. and now some on capitol hill, some of even the president's allies are saying this is now in their view time to cut bait and stop going for the big deficit reductions package they've been talk about and find the easiest path forward to get the debt ceiling raised and worry about deficit reductions at another time. >
CNN
Jul 25, 2011 10:00am PDT
. saved a bunch. that's a reason to switch. big savings -- it's a good look for you. [ blower whirring ] [blower stops] the safety was off. out there with a better way. now, that's progressive. >>> jury selection has started in the trial of polygamist leader warren jeffs, charged with sexual assaulted on a child and bigamy. police arrested jeffs after raid on the ranch run by his church in 2008. the fundamentalist chur of jesus christ of latter day saint saints is a breakaway sect of the mormon church. gary tuchman is here to talk about this. these are the most serious charges in terms of this trial he has ever faced. >> the most tearious charges, the viewers heard about warren jeffs a long time, on the fbi ten most wanted list, he was convicted in utah of a less serious charge but overturned because of faulty jury instructions. arizona dropped their charges because arizona convicted him no longer valid, now, very serious charges two charges of sexual assault against two girls 12 and 13 years old, jeffs accused of having relationships and a baby with the 13-year-old. very serious. what
CNN
Jul 25, 2011 12:00pm PDT
opponents. from everything i've been reading trying to keep up with all of this, the big difference here from the democrats' side there's no mention of revenue increases, correct? >> huge concession from democrats. the whole time democrats say there must be revenue on the table, republicans say they can't be. now democrats are dropping that huge demand. here is what supporters would say. this plan gets it done. they would say we're out of time. we're in the going to push for all of our demands anymore. we are backing down in the interest of the country. that's what democrats will say. republicans say, wait a minute, we think this is a setup. we don't think these spending cuts do as much as you say. he don't believe $1 trillion in war money is necessarily real. we also think this doesn't do enough long-term. they say this is not as hefty as democrats claim. does that make sense? >> sure. let me point something out, though. we know harry reid said something that made us wonder, talking about the tea party influence in the different debates and discussions. take a listen and i'll pose a que
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